City (NASDAQ:CHCO) Director James Parsons Purchases 100 Shares

City Holding Company (NASDAQ:CHCO) Director James Parsons purchased 100 shares of City stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $121.60 per share, with a total value of $12,160.00. Following the completion of the purchase, the director directly owned 2,800 shares of the company’s stock, valued at approximately $340,480. This trade represents a 3.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

City Stock Performance

Shares of CHCO stock traded down $0.49 during trading hours on Wednesday, reaching $121.12. The company had a trading volume of 51,737 shares, compared to its average volume of 107,865. The business has a fifty day moving average price of $121.97 and a 200-day moving average price of $122.40. City Holding Company has a one year low of $113.21 and a one year high of $133.59. The firm has a market cap of $1.71 billion, a PE ratio of 13.32 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The firm had revenue of $79.25 million during the quarter, compared to analyst estimates of $79.25 million. Sell-side analysts predict that City Holding Company will post 8.99 earnings per share for the current fiscal year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, April 15th. City’s payout ratio is 38.33%.

City announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

CHCO has been the subject of several recent research reports. Hovde Group boosted their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Piper Sandler boosted their target price on shares of City from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $134.25.

Hedge Funds Weigh In On City

A number of hedge funds have recently modified their holdings of CHCO. Two Sigma Investments LP boosted its position in shares of City by 136.4% in the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after purchasing an additional 71,436 shares during the period. Tudor Investment Corp ET AL boosted its position in shares of City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after purchasing an additional 29,828 shares during the period. JPMorgan Chase & Co. boosted its position in shares of City by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after purchasing an additional 22,536 shares during the period. Marshall Wace LLP bought a new position in shares of City in the second quarter worth approximately $2,216,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of City in the fourth quarter worth approximately $2,157,000. 72.43% of the stock is currently owned by institutional investors.

About City

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.